1. pineapples

    pineapples Member

    Just came across this, another brand new, code in development, competing currency with added support for integrating ALL currencies.
    I tried to cherry pick but the "features at launch" were too good to trim :)

    source : https://bitcointalk.org/index.php?topic=1387944.0


    Introducing WAVES, ultimate crypto-platform for asset/custom token issuance, transfer, and trading on blockchain.
    Inspired by NXT cryptocurrency WAVES is a new platform, being coded from scratch and aiming to become for colored coins what ETH is becoming for scripting. We're a group of developers and businessmen who were involved with NXT platform, using our experience and expertise we want to offer a robust and flexible colored coins platform, with focus on crowdfunding, community projects, open source development and connection to established payments networks.
    At launch Waves will offer a full-scale platform for decentralized crowdfunding, community management, encrypted messaging. We will offer a light weight chrome plugin for end-users, full node carrying the full blockchain will be run on a separate software module.
    Custom token issuance, transfer, and decentralized trading
    Colored coins approach is the corner stone of value representation on blockchain. Custom tokens can designate a share in crowdfunding project, a game token, can represent fiat currencies on blockchain. The scope of cryptotokens usage is limited by the users' imagination only, and may go well beyond representing financial instruments on blockchain.

    Users will be able to issue their token, transfer it to other users, and trade it on a decentralized exchange. The main usage we want to market is crowdfunding of open source projects. Consider it to be a full scale crypto kickstarter, where users can not only back up a project they like but have a token tied to their donation and trade it, thus transferring the benefits the holding of the token provides to another user.

    We will be working with regulators to provide a compliant environment in major jurisdictions. The next stage would be the stock and other financial instruments issuance by established companies, fully compliant with local laws. By providing asset to asset decentralized trading we will be offering a decentralized exchange which can be used for financial instruments clearing and trading.

    The key features WAVES will have at launch are:

    FIAT tokens on WAVE blockchain
    We will be supporting fiat tokens, tied to major world currencies. They will be backed by existing financial institutions, who will provide market making for the assets, compliant with their KYC/AML. The structure is similar to Ripple gateways, it is not a market-peg, but a full backing by a third-party entity.
    By providing fiat tokens we reach out to general kickstarter audience, they do not have to deal with crypto exchange rates, being in comfortable EUR or USD environment.

    Сryptocurrency tokens
    Also major cryptocurrencies will be supported as WAVES blockchain assets. It will allow decentralized trading against BTC token, which will probably be used by cryptocurrency crowdfunding projects wishing to launch their campaigns on WAVES platform. All major cryptocurrencies will be supported.The implementation of cryptocurrency tokens is based on MGW approach from SuperNET project, that is several independent servers will provide multisig deposit address for supported cryptocurrency,and upon a successful deposit a user receives corresponding blockchain token, which he or she can trade or withdraw back to the corresponding cryptocurrency.

    These features make Asset to Asset trading possible, and important. Through trading an asset against another asset in a decentralized way we effectively obtain first decentralized stock exchange/ crowdfunding platform, tied to "established" real world currencies and cryptocurrencies with strong monetary emphasis.

    Community management features
    Decentralized voting and messaging will be implemented. It will help the projects launched on WAVES platform communicate to backers and decide on the community development in a fair and transparent way.

    Plug-in system
    To pave the way for the future system development and streamline the process of rolling out the future updates a flexible plugin system will be implemented. It will allow to get rid of hard forks and implement most new features through the plug-in system.



    March 2016 to April 2016 Start of the full-node code development
    April 2016 Start of the crowdsale
    Summer 2016 Test net launch. End-user light client launch
  2. pineapples

    pineapples Member

    apparently is related to this "Declaration of Independence -Atomic Cross Chain Asset Standard"
    https://bitcointalk.org/index.php?topic=1372879.0 (there is some interesting goodness from jl777 in the thread where he discusses it more).

    "Declaration of Independence

    We the asset holders hereby declare our independence from any single blockchain.

    An open and jointly developed specification on cross chain atomic asset transfers will be developed. Any current or future blockchain is invited to join.

    Each blockchain will need to not only promise protections for asset holder interests, they need to live up to them. Otherwise, all the assets will simply move to blockchains that do.

    Additionally, once assets become mobile, the different blockchains will start to differentiate themselves with better features for the assets. Better liquidity, better fees, more functions.

    This ability for the asset holder to choose where their assets reside is the only protection from the tyranny of the hardfork.

    Traditional companies trade on multiple exchanges, it is time for decentralized assets to distribute the blockchains they exist on. Maintaining a constant total number of assets issued across all blockchains will allow maintaining a fixed total, but only if each participating blockchain follows strict rules on asset issuance.

    The reality is that everything in crypto trades against BTC. One of the conditions for cross chain assets is the ability to trade directly against BTC, preferably native BTC and not a derivative. I will be working on a reference implementation as a first draft and look forward to collaborate with all other asset oriented projects.

    This is an interop standards effort and it needs to be blockchain agnostic and asset centric.


    P.S. I am not asking for any funds or investments."


    "However, if something makes a different blockchain more attractive for that specific user, he would be able to migrate some or all of his assets there. This sets up the different blockchains to compete for residency of the assets and since the asset total is blockchain(s) enforced, short of a blockchain totally stopping, the asset value is protected. Even in that case, we could probably have some provisions for snapshot resurrections."

    Seemingly an attempt to create a standard for creating interchain transactions, such that any chain could shift any % of it's assets to another chain and back again ("The key is to make sure that at the high level all the current and likely future blockchains can provide the required import function. Ideally into the native asset type, but some coins like Bitcoin and all its forks, of course dont have any intrinsic assets. but with OP_RETURN data or colored coins, even for blockchains without native asset support can support assets." - jl777)

    JL777 having previously created the Multigateway, with which users can transfer approved crypto from one chain to a Next Asset (I havent paid attention to that for some time).
    Specialised nodes create BTC/LTC(etc) addresses, which can be sent to, the sender is rewarded with the appropriate NXT asset.
    Last edited: Mar 5, 2016
  3. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    You can't trade Bitcoin "decentralized" without implementing their protocol so it passes the sniff test at least. If it is in Java I just feel like the guys may be selling themselves short.

    The idea with MicroCash code is you can code other clients and integrate them all together, including existing ones, of which Bitcoin is probably the only interesting one to replicate, maybe Eth and Litecoin too at some point.
  4. roméo

    roméo New Member

    You can already do all that with NXT. With the Asset exchange and the Monetary System
  5. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    You could do it with pretty much any crypto, the key is in the "gateways" not the currency itself. Pretty much centralized exchanges which you communicate with on the p2p network instead of a web browser. Ripple started that concept but it also misled people about the potential of moving any currency anywhere in the world. When in reality it is just a series of gateways/exchanges holding your credits.
  6. SuperTramp

    SuperTramp Administrator Staff Member

    "Tokens", "Colored-Coins", "Custom Tokens" etc... o_O
    I feel like next generation crypto NEEDS to be SIMPLER, not more complicated.

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